Feedback Regulatory News (FDBK)

16 Mar 2005 13:07

Feedback PLC16 March 2005 Feedback PLC16 March 2005 Feedback PLC ("Feedback" or "the Company") Property Disposal Feedback PLC announces that on 16 March 2005, contracts were exchanged for thesale of its freehold head office in Park Road, Crowborough, East Susex for acash consideration of £955,000. This compares with their valuation of £490,000at 31 March 2004, resulting in a surplus of £465,000 before costs and taxation.Completion is scheduled to take place following the grant of planning permissionover the freehold premises which the board believe may take between 6 and 12months. Commenting on the transaction, David Sawyer, Chief Executive, said "The boardhas decided to make this strategic move of head office which gives us theopportunity to take advantage of value in our Freehold Property to augment ourworking capital position". This information is provided by RNS The company news service from the London Stock Exchange